V-Fest Comes to Canada?

Sir Richard Branson, head of Britain's Virgin Group is set to make a major announcement in Toronto this week and speculations say it will be to bring a major music festival to this side of the pond.

Branson has scheduled a press conference at the Docks Entertainment Complex on Friday June 30 and according to Canada.com, "The Virgin mogul will unveil details Friday of the country's first V Festival."

The V Festival is an annual rock festival in England held simultaneously at two sites in Essex and Staffordshire. Originally just a means to promote Virgin, the festival has become a major music destination. Last year the festival boasted headliners Radiohead and Morrissey as well as Fatboy Slim, Bloc Party, Keane and many, many more.

According to Canada.com, "Sources claim the festival will be held September 9 and 10 on Olympic Island and could include acts like the Flaming Lips, Gnarls Barkley, The Raconteurs and Clap Your Hands Say Yeah."

The company's official word is that they will be making "an announcement that will rock the Canadian music scene."